- SQM reported a revenue of $1.08 billion in the first quarter, which is 52% less than last year and also missing the estimate of $1.14 billion.
- The company reported a net loss of $869.5 million against a profit of $749.9 million last year, which is significantly higher than the estimated loss of $337 million.
- The revenue from Specialty Plant Nutrition was $207.8 million, a decrease of 5.9% from last year, but it was above the estimate of $199.8 million.
- Lithium and Derivatives revenues showed a decrease of 67% from last year, amounting to $547.4 million, failing to meet the estimation of $571.5 million.
- Iodine and Derivatives revenues were $240.1 million, slightly up by 0.2% from last year, and was higher than the estimate of $212.3 million.
- Potassium Chloride & Potassium Sulfate revenues decreased by 27% from last year, but managed to slightly beat the estimate of $60.1 million with a revenue of $63.6 million.
- Industrial Chemicals revenues decreased significantly by 67%, netting only $21.8 million, which is substantially less than the estimated $47.6 million.
- The adjusted EBITDA was $403.6 million, a significant decrease of 63% from last year.
- For the year, SQM forecasts a capital expenditure of $1.3 billion.
- The company reiterated its production forecast of around 210,000 metric tons of lithium carbonate equivalent in their facilities in Chile and China.
- SQM expresses optimism in the Lithium market; believing that there can be a demand growth of 20% in 2024.
- The company stock discerned 5 buys, 2 holds, and 0 sells.
A look at Sociedad Quimica y Minera de C Smart Scores
| Factor | Score | Magnitude |
|---|---|---|
| Value | 2 | |
| Dividend | 4 | |
| Growth | 5 | |
| Resilience | 4 | |
| Momentum | 2 | |
| OVERALL SMART SCORE | 3.4 |
Smart Score is a compound score for the Company indicating its overall outlook. It is derived by taking an equally weighted average of underlying Factor scores computed by Smartkarma
Analysts at Smartkarma have assessed Sociedad Quimica y Minera de C‘s long-term outlook using Smart Scores, a rating system ranging from 1 to 5. With a strong score of 5 for Growth and 4 for Resilience and Dividend, the company is projected to have promising future prospects. This indicates that Sociedad Quimica y Minera de C is well-positioned to experience continued expansion and financial stability, making it an attractive option for investors seeking growth and consistent returns.
Sociedad Quimica y Minera de Chile SA, known for its production of specialty fertilizers and industrial chemicals, has a global reach, marketing its products in over 100 countries. With its robust scores in growth, resilience, and dividend, the company showcases a solid foundation for sustained success in the ever-evolving market landscape, reinforcing investor confidence in its long-term potential.
Disclaimer: This article by Smartkarma is general in nature and based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. Note that our articles may not factor in the latest price-sensitive company announcements or qualitative material.
While all reasonable care has been taken in the preparation, Smartkarma makes no assurance about the accuracy of any generated data or content. All content is indicative only and should be independently checked for accuracy and confirmed before use. Smartkarma accepts no responsibility for any loss or damage caused as a result of any inaccuracy or error within the Lab online tools or generated data.
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